Guide to Day Trading Monday: 6 Stocks to Buy or Sell Today – July 25

Daily Trading Guide: Following the rally in bank stocks, strong global signals and short hedging by Foreign Institutional Investors (FIIs), the Indian stock market has rallied over the past six sessions. Over the past 5 sessions, the Nifty 50 index climbed over 4% and closed above 16,700, while BSE Sensex jumped 4.30% and ended above the 56,000 mark. Among the sector indices, the banking space posted a good outperformance led by its heavyweights, which translated into gains of around 6% in the Bank Nifty. The mid-cap space has also witnessed equity-specific buying interest.

According to stock market experts, a small positive candle has formed on the daily chart with a minor upper and lower shadow. This chart pattern indicates narrow range movement in the market at the highs. The formation of small shadows signals minor confusion among market participants at the highs.

Daily trading guide for the stock market today

Speaking on the outlook for SGX Nifty, Anuj Gupta, VP – Research at IIFL Securities, said: “SGX Nifty is trading 90 bps lower today, but the overall trend for SGX Nifty today is positive. Maintain a buy dip strategy and avoid going short. Support for SGX Nifty is placed at the 16,450 and 16,200 levels as it faces a hurdle at the levels 16,800 and 17,020.”

“Nifty’s short-term trend continues to be positive and there is still no indication of a reversal forming at the highs at the moment. 16800, there is a higher likelihood of a downward correction emerging from the highs by next week. Important weekly support for NSE Nifty is placed at 16,450 levels,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

“FIIs hedged some of their short positions in the index futures segment last week and their short hedging led to positive momentum. In the week ahead, resistance will be seen around the 17,000 mark. , where we can see the 61.8% retracement level of the corrective phase mentioned above.Given that the momentum readings have also approached the overbought zone, it is prudent to look to take profits now on long positions and take money off the table,” said Ruchit Jain, Lead Research at 5paisa.com.

Day trading stocks

Share Intraday Stocks for Today, Stock Market Experts – Sumeet Bagadia, Executive Director at Choice Broking; Rajesh Bhosale, Technical Analyst at Angel One and Mehul Kothari, AVP – Technical Research at Anand Rathi – recommended 6 stocks to buy today.

Sumeet Bagadia Intraday Stocks for Today

1]HDFC Bank: Momentum buy from CMP, objective 1425 to 1450, stop loss 1360

2]Chambal fertilizer: Buy from CMP, objective 330 to 340, stop loss 310

Rajesh Bhosale shares to buy today

3]Rain Industries: Shop Around 161.60, target 175, stop loss 154.40

4]United Spirits or MCDOWELL-N: Shop Around 844 target 880, stop loss 827

Mehul Kothari’s day trading stocks to buy today

5]Bharti Airtel: Buy on 679 target 700, stop loss 665

6]Muthoot Finance: Buy on 1039 target 1080, stop loss 1020.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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